Africa Business Radio

Cassava Smartech now trading as EcoCash Limited saw its six months to August 2021 revenue grow to $11 billion representing a 36 per cent increase from the same period last month.The company said growth was driven largely by an increase in transactional volumes for the fintech business units. Cassava's fintech business remains the largest contributor to revenue, constituting 80 per cent of the total.Cassava's management said it will continue to focus on revenue diversification as a strategy for revenue growth.The Cassava board Chairperson, Sherree Shereni, in a statement says insurtech businesses implemented various initiatives to reach previously uninsured communities, and the business section revenue contribution grew from 14 per cent in the same period last year to 19 per cent on the back of the growing strength of our short-term insurance corporate book.